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Ethereum pulled its decline below the $ 2,000 support against the US Dollar. ETH price is currently consolidating losses and could initiate a new increase if it clears $ 2,010.

 

Ethereum surge signal

Ethereum extended its decline below the $ 2,050 and $ 2,000 support levels.

The price is currently trading well below $ 2,050 and the 100 hourly simple moving average.

There is a major bearish trend line showing resistance near $ 2,065 on the hourly chart of ETH / USD.

The pair could begin a decent uptrend if it clears the $ 2,010 resistance zone.

If Ethereum fails to clear the $ 2,010 resistance, it could fall further. The first major support is now forming near the $ 1,960 level and the triangle lower trend line.

The main support is currently near the $ 1,940 level. A clear bearish break below the triangle support and the $ 1,940 zone could push the price to the $ 1,880 support level in the coming sessions. More losses will likely require a $ 1,850 test.

 

Technical indicators

Hourly MACD – The MACD for ETH / USD is slowly gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH / USD is currently approaching the 50 level.

Major Support Level: $ 1,960.

Major Resistance Level – $ 2,060.

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